Tarleton's Enterprise Risk Management Plan

Events such as management changes and reorganizations, demands for increased accountability by funding sources, new legislation resulting from corporate scandals, and adverse events occurring on or around campus have heightened the awareness of the various risks facing the University community. Since risk management has always been an important area of strong management interest and involvement, the University Office of Risk Management and Compliance (RMC) was formed in 2005. In 2008, RMC assumed enterprise risk management (ERM) functions through the Office of Finance and Administration.

The Enterprise Risk Management Process is coordinated annually in the following manner:

September

October

RMC forwards request to the campus community requesting risk items to be submitted through various reporting organizational units which include:

Academic Affairs

Student Affairs

Finance and Administration

Enrollment and Information Management

Institutional Advancement

November

Identified risk items are presented to the Executive Cabinet for addition to the Risk Matrix. Additionally, the Executive Cabinet reviews and approves risk items to be included or removed from the University Risk Matrix for tracking purposes. Risk Matrix is submitted to System Office Risk Management before November 30th each year.

February

The Ethics & Compliance Committee will review the final Risk Matrix for inclusion within the annual Ethics & Compliance Plan. Upon final review the updated documents will be posted at the ERM website.

Long-term risk assessment planning will include the development of interactive tools for the University community to perform their own self-assessments and updates.